Soreide Law Group has important information to share with you regarding securities broker Dustin Michael Blount (CRD#: 5267680, Vicksburg, Mississippi). Specifically, it appears on BrokerCheck that in addition to him being discharged for alleged misconduct, the broker is the subject of criminal charges in 2018, an investor dispute in 2019, and a FINRA bar in which Blount is no longer allowed to be a securities broker any longer for firms associated with the regulator.
Evidently, in March 2020, FINRA decided to bar Dustin Blount as securities broker for an indefinite amount of time. This is because FINRA asked Blount for information, and he did not provide anything in return. It appears that the regulator’s process first involved suspending Blount for a limited time for noncooperation. Eventually, FINRA barred him for not addressing the requests or otherwise trying to end the suspension.
Dustin Blount worked for MML Investors Services from June 2017 to February 2019. Notably, FINRA shows that a client lodged a dispute about him in August 2019. That dispute contains allegations of Blount misleading the client regarding a costly switch (replacement) of that client’s annuity with another annuity. It appears that the client experienced damages by moving forward with this transaction. Because of this, the client received $25,000 in a settlement of this matter.
Also, in June 2018, Dustin Blount faced charges of a criminal nature. Those charges include false pretense; unlawful actions against Southern Farm Bureau Life Insurance Company; and making false representations or statements in applications. Blount is accused of unauthorized and unlawful transactions relating to clients’ applications to Southern Farm Bureau Life Insurance Company, among other things. Evidently, he faces eight criminal charges in total, all of which he has pleaded not guilty to. This matter awaits resolution.
It appears that Dustin Blount’s first employer, Northwestern Mutual, disaffiliated with him in August 2015 for improperly soliciting its clients.
Did Blount cause you to incur losses or damages? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped recover compensation for investors across the United States who sustained damages because of their financial advisors or securities brokers. Note that Blount denies all allegations of sales practice violations.
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